BitMEX COO Angelina Kwan Has Resigned

Siamak Masnavi

Angelina A. Kwan, the Chief Operating Officer (COO) of BitMEX, the world's largest crypto derivatives exchange, has reportedly resigned.

According to a report by The Block published on Monday (September 9), a BitMEX spokesperson told the crypto news outlet:

We can confirm that Angelina Kwan is leaving the company and is on gardening leave now. That’s all we can say on the matter at the moment, but we wish Angelina all the best.

Kwan is the former Managing Director and Head of Regulatory Compliance at Hong Kong Exchange and Clearing Ltd ("HKEX").

The HKEX Group "operates a stock market and futures market in Hong Kong through its wholly owned subsidiaries The Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Futures Exchange Limited (HKFE)." It also "operates four clearing houses in Hong Kong: Hong Kong Securities Clearing Company Limited (HKSCC), HKFE Clearing Corporation Limited (HKCC), the SEHK Options Clearing House Limited (SEOCH) and OTC Clearing Hong Kong Limited (OTC Clear)."

Kwan joined BitMEX in October 2018. Back then, she told Bitcoin Magazine:

It is very exciting time for me to be joining the company. In the last three months, BitMEX broke the industry record for daily bitcoin trading volume twice and also launched two sophisticated financial products: ETH/USD perpetual swaps, and UPs and DOWNs (our first call and put options).

She also said:

Regulatory compliance and prudent risk management is, and has always been, fundamental to the culture and practice of BitMEX globally. As such, BitMEX prohibits residents of various jurisdictions, including the U.S., from holding positions or entering into contracts on BitMEX.

Bitcoin Magazine says that one reason Kwan chose BitMEX was "the exchange's commitment to promoting women in STEM (Science, Technology, Engineering and Math)"; in Kwan's words:

BitMEX has made its commitment to meritocracy clear and is sending the message that women with deep backgrounds in finance and business can execute at the highest level within cryptocurrency companies.

And this is how BitMEX Co-Founder and CEO Arthur Hayes welcomed her to BitMEX:

Welcoming Angelina — experienced in traditional finance and regulation — to the BitMEX team is a significant milestone not just for our company, but for the cryptocurrency industry as a whole. I believe Angelina’s decision to join us is a signal that the global markets are shifting focus to the rapidly-expanding domain of crypto-coins.

Hayes had this to say about Kwan's extensive experience with regulatory compliance:

Angelina’s vast experience in regulation, trading platforms, business development, restructuring, and investor and stakeholder relations will be pivotal as we continue the push towards mainstream cryptocurrency adoption and broaden our community.

BitMEX has not announced yet who the replacement for Kwan will be.